Blockchains

Pharos Network, a Layer-1 blockchain purpose-built for real-world financial applications, today announced a strategic partnership with KUN, a licensed enterprise digital payments specialist operating across Asia, Africa, Latin America, and the Middle East.

Monolythium Foundation today introduced the public testnet for Monolythium, a rebuilt Layer 1 blockchain designed as settlement infrastructure for autonomous agents, post-quantum accounts, native markets, and operator-cluster infrastructure.

The Layer 1's gasless stablecoin design pushed transfer throughput to nearly $65 billion since June 10, recasting Sui as a fee-free settlement rail for institutional and agentic payments.

Cosmos Labs is consolidating the Cosmos ecosystem’s shared infrastructure under one roof, acquiring the Mintscan product suite and forming Cosmos Labs Korea, a Seoul-based subsidiary that will take stewardship of Skip:Go, IBC Eureka, and Mintscan. The deal opens a broader APAC expansion and frees engineering capacity for the Cosmos Hub roadmap.

The Solana Foundation formalized Solana's institutional market-structure tier with Frontier Traders, requiring $500M in trailing 30-day DEX volume for VIP access, with the debut campaign running on SpaceX tokenized equity.

LG Electronics is building a blockchain-based advertising network on its own Arbitrum-derived Layer 2, with a pilot completed and a commercial launch targeted for later this year.

The steward of the Cardano blockchain is seeding DeFi liquidity, backing an $80M venture fund and signing enterprise deals — a reversal of its hands-off posture that lands as onchain metrics fall and the network's founder feuds with it over governance.

Digital Asset has closed a $355 million funding round led by a16z crypto, with HSBC, Apollo, CME, BNP Paribas, ADIA, ABN Amro, S&P Global, Tradeweb and more than 20 other institutional names joining as investors.

ZK blockchain project Hyli is shutting down after two years, with the team citing weak demand for zero-knowledge technology. The closure comes the same day Botanix wound down its Bitcoin Layer 2.

Polychain-backed Botanix Labs is winding down its Spiderchain Bitcoin Layer 2 after a year of mainnet operation, citing insufficient demand for Bitcoin-native DeFi. Users have until July 9 to withdraw assets.